GoodRx price target raised to $8 from $6 at Morgan Stanley

Morgan Stanley analyst Craig Hettenbach raised the firm’s price target on GoodRx (GDRX) to $8 from $6 and keeps an Equal Weight rating on the shares. The stock has jumped nearly 40% since the CVS Caremark (CVS) partnership was announced on July 11, notes the firm, which thinks this move reflects “bearish investor positioning and further amplified by benefits of the deal.” While the firm view this deal as “a win/win for both parties” and likes the initiatives of new management, improved execution and greater consistency are key to driving sustained gains for GoodRx, the analyst argues.